Enterprise Products Partners L.P. $EPD is Oxbow Advisors LLC’s 4th Largest Position

Oxbow Advisors LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% during the third quarter, HoldingsChannel.com reports. The fund owned 1,290,033 shares of the oil and gas producer’s stock after selling 52,241 shares during the quarter. Enterprise Products Partners makes up approximately 3.7% of Oxbow Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Oxbow Advisors LLC’s holdings in Enterprise Products Partners were worth $40,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Winnow Wealth LLC purchased a new position in Enterprise Products Partners during the 2nd quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Traub Capital Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth $31,000. Financial Consulate Inc. bought a new stake in shares of Enterprise Products Partners in the third quarter valued at about $33,000. Finally, Davis Capital Management purchased a new stake in Enterprise Products Partners in the third quarter worth about $45,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a report on Monday, December 1st. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Finally, Scotiabank restated a “sector perform” rating on shares of Enterprise Products Partners in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.

Enterprise Products Partners Stock Down 0.5%

Shares of EPD traded down $0.17 during mid-day trading on Friday, hitting $33.03. 4,857,785 shares of the company traded hands, compared to its average volume of 3,291,905. The company has a market capitalization of $71.44 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 2.33 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average of $32.26 and a 200 day moving average of $31.70. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a $0.55 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved a stock repurchase plan on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.